Monday’s game plan after Iran

Monica Kingsley Monicakingsley

Hot PPI would call for tighter monetary policy and risk-off, but given the fearful decline already into it, the data release resulted in limited retail panic, and actually buying the dip reaction. Pushing wildly up (and down) intraday, the (oversold) advance (without great Russell 2000 participation) was sold before bullish positioning into the close.

Fairly uneven picture in terms of the advancing. vs. declining volume as well (most optimistic take was the Wall Street Market Diary, contrasted with StockCharts) – Bitcoin wasn‘t disorderly selling off, and in hindsight (of Iran war starting hours after the closing bell), it was only the short-dated Treasuries and precious metals that were steadily rising. Major whiff of risk-off that I looked to erupt one weekend later, did so already this one.

Author

Monica Kingsley

Monicakingsley

Monica Kingsley is a trader and financial analyst serving countless investors and traders since Feb 2020.

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